More JCPenney Stores Closing, 7 In Georgia To Shut Down
GEORGIA — Weeks after filing for bankruptcy, JCPenney has announced it will close 154 locations nationwide, including seven stores in Georgia. The news came Thursday as company officials said the closings are part of its "store optimization strategy."
With a June 11 hearing in its bankruptcy case approaching, JCPenney said, "Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures."
In Georgia, locations set to close include:
Georgia Square, 3700 Atlanta Hwy, Athens
Northlake Mall, 4840 Briarcliff Rd NE, Atlanta
Arbor Place Mall, 6650 Douglas Blvd, Douglasville
Lakeshore Mall, 150 Pearl Nix Pkwy, Gainesville
Mount Berry Mall, 300 Mount Berry Square NE, Rome
Statesboro Mall, 325 Northside Dr E, Ste 25, Statesboro
Hatcher Point Mall, 2215 Memorial Dr, Waycross
Store closing sales are expected to take 10 to 16 weeks to complete.
J.C. Penney's announcement of the store closures this week follows the company's declaration of bankruptcy in May.
The 118-year-old retailer reported it is reducing its brick-and-mortar retail footprint to focus on its strongest stores as well as its website.
"While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come," Jill Soltau, J.C. Penney's chief executive officer, said in a statement.
As of this week, JCPenney has reopened nearly 500 stores that had closed down during coronavirus stay-at-home orders across the country.
Many other national retailers are struggling, too. In February, Macy's said it plans to close 125 stores over the next three years, representing a fifth of the retail giant's locations, according to a report. So far it's unknown which locations will be shuttered in this latest round of closings, but it could impact some of the stores in Georgia.
The JCPenney and Macy's closings are part of a growing list of brick-and-mortar establishments that have seen a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart.
Other chains that are closing some of their Georgia stores include the Gap, Pier 1 Imports, Bed Bath & Beyond, Sears, Kmart, Dressbarn and more.
Other chains that are closing some of their Georgia stores include Papyrus, a stationery retailer, is closing all of its stores across the country. The chain operated two Atlanta stores at Lenox Square and Phippps Plaza.
A record 9,300-plus store closings were announced in 2019, and that number could be even higher in 2020, according to a report by Business Insider.
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This article originally appeared on the Douglasville Patch
